CHAPTER QUESTIONS AND ANSWERS 8 QUIZ----------------------What journal entry would OI have made to record the additiuonal $295 million of asbestos liability? You can ignore income taxeffects 2. Briefly summarize the effects development restatement on the

1.What journal entry would OI have made to record the additiuonal $295 million of asbestos liability? You can ignore income taxeffects

2.    Briefly summarize the effects development restatement on the following financial staements. What accounts were affected ? by how much ? what other disclosure were impacted?  Note 1 in the restated 2-15 10-k describes the changes a)    The income statement b)    The balance  c)    The statement of cash flows d)    The statement of shares owners’ equity.